Overview
- UK retail sales volumes fell by 0.3% in October, reaching the lowest level since the lockdowns in February 2021.
- Factors contributing to the decline include rising living costs, poor weather, and cautious consumer spending.
- Fuel sales fell by 2% between September and October, while sales of alcohol and tobacco also saw significant drops.
- Despite the downturn, online retailers reported growth in October, with volumes increasing by 0.8% compared to the previous month.
- Retailers are hopeful for a boost in sales during the upcoming Christmas season, despite the current economic climate.